Ceapro to Develop Enabling Pressurized Gas Expanded Technology (PGX) at Commercial and Demonstration Scale
Scale-up of unique, patented PGX enabling technology expected to generate numerous novel bio-based products with improved purity and functionality in several industrial applications
EDMONTON, ALBERTA -- (Marketwired) -- 05/28/15 -- Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Company"), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for the healthcare and cosmetic industries, announced today it will embark on a scale-up of its proprietary PGX technology to commercial and demonstration levels.
Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro, remarked, "The Company recently obtained the worldwide rights for PGX in all industrial applications and we believe PGX will drive significant value for Ceapro. We are committed to investing in the potential of the PGX platform. It is exciting to see how this enabling technology has evolved from an in-house beta glucan project to a global technology platform with many unique potential applications."
Ceapro, based in Edmonton, Alberta, is building the world's first PGX enabling equipment capable of processing a wide range of biopolymer feedstock in Alberta. The implementation of PGX at a commercial scale has the potential to generate many novel bio-based products with improved purity and functionality and grow the bioindustrial sector in Alberta. As a support to this project estimated at $2 million, Ceapro will receive a funding contribution of $800,000 from Alberta Innovates Bio Solutions (AI Bio) to implement the commercialization scale-up of the PGX technology.
"Ceapro continues to maintain its focus on its expressed corporate vision in the personal and healthcare sectors, and the completion of our manufacturing facility remains a priority. We believe the development and exploitation of our unique PGX platform technology in parallel could be a major game-changer for the Company and be instrumental in ensuring long-term growth," Mr. Gagnon added. "Because commercialization efforts for new biomaterials are surging on a worldwide basis, we are thrilled to make our enabling platform of PGX available for the greatest positive impact on the province of Alberta."
Applications being developed utilizing the PGX enabling platform include high-value medical, cosmetic and functional food ingredients; pharmaceutical products development; and industrial applications by utilizing biopolymers such as Cellulose Nanocrystals (CNC) from wood pulp to generate biocomposite films and plastics, paints, insulation, packaging, hygiene and absorbent products.
"With this investment, AI Bio is helping to fulfil its mandate to support the growth and diversification of Alberta's agriculture, forestry and life-sciences sectors," noted Steve Price, CEO at AI Bio. "It's not often that we come across a technology that is truly transformative. We believe that Ceapro's PGX technology has the potential to be just that. With its ability to produce natural, beneficial bioproducts in a highly usable form, PGX will be in demand in a wide range of industries. This new technology opens the door to new and improved bioproducts that add value to agriculture and forest biomass found in Alberta."
"Commercializing Ceapro's PGX technology provides us with an important avenue for economic and corporate growth opportunities in Alberta," added Mr. Price. "As Ceapro makes this technology available to other Alberta companies, it will allow them to create and market biomaterials originating in this province as well."
PGX technology is highly versatile and can be used to dry, purify, micronize and impregnate various biopolymers such as CNC, beta glucan and starch more thoroughly than other known methods without ruining the biopolymers beneficial properties. Additionally, PGX technology purifies at the same time, which increases the physical volume and functionality of biopolymers. The ability to effectively purify and dry biopolymers increases shelf life by enhancing stability and facilitates transportation thereby reducing costs for the industry.
About P ressurized G as e X panded Liquid Technology (PGX)
PGX is a unique and disruptive technology with several key advantages over conventional drying and purification technologies that can be used to process biopolymers into high-value, nano-sized polymer structures and novel bio-nanocomposites. PGX is ideally suited for processing challenging high-molecular-weight, water-soluble biopolymers. It has the ability to make ultra-light, highly porous polymer structures on a continuous basis, which is not possible using today's conventional technologies. PGX was co-invented by Ceapro researcher Dr. Bernhard Seifried and University of Alberta professor, Dr. Feral Temelli.
About Alberta Innovates Bio Solutions
Alberta Innovates Bio Solutions is a board-governed research and innovation agency funded by the Government of Alberta. AI Bio invests in science and innovation to grow prosperity in Alberta's agriculture, food and forest sectors through new technologies, products, services or industry practices. It routinely seeks R&D partners in the areas of sustainable production, bioindustrial innovation, food innovation, ecosystem services, biological greenhouse gas management and prion diseases.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and "active ingredients" from oats and other renewable plant resources.
Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical and therapeutic products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company's website at www.ceapro.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Ceapro Inc.
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Source: Ceapro Inc.
Released May 28, 2015